Home Cardano Price Analysis: ADA/USD continues to trend in a narrow $0.011-range
Crypto News

Cardano Price Analysis: ADA/USD continues to trend in a narrow $0.011-range

FX Street
Updated:
  • ADA/USD bears took charge after two bullish days.
  • Cardano has been trending horizontally for the last six days.
  • The RSI indicator is still trending around the edge of the overbought zone.

ADA/USD daily chart

ADA/USD daily chart

ADA/USD bears took charge of the market following two bullish days and took the price down from $0.1273 to $0.1243. Initially, the bulls managed to take the price up to $0.136, before the bears took charge. The MACD shows decreasing bullish momentum, while the RSI is trending along the edge of the overbought zone. The price has been trending horizontally in a narrow $0.11-range between $0.129 to $0.118 for the last six days.

Support and Resistance

ADA/USD has strong resistance at $0.129. On the downside, healthy support lies at $0.118, $0.101 (SMA 20), $0.0987 and $0.0867 (SMA 50).
 

FX Street

FX Street

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions.

WARNING: The content on this site should not be considered investment advice and we are not authorised to provide investment advice. Nothing on this website is an endorsement or recommendation of a particular trading strategy or investment decision.  The information on this website is general in nature, so you must consider the information in light of your objectives, financial situation and needs. Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence or obtain advice where necessary. Crypto promotions on this site do not comply with the UK Financial Promotions Regime and is not intended for UK consumers. This website is free for you to use but we may receive a commission from the companies we feature on this site.

© forexcrunch.com All Rights Reserved 2017 – 2024